Zhaikmunai GDR Approved

摘要

Kazakhstan-based independent Zhaikmunai has won regulatory approval from the Kazakh government to go ahead with a $300 million global depositary receipt (GDR) in London, which it now expects to conclude by Sep. 15. "The relevant Kazakh authorities have confirmed to Zhaikmunai that they do not intend to exercise their priority right to purchase the GDRs in accordance with Article 71 of the Kazakh subsurface and subsurface use law and that they approve the placing," Zhaikmunai said in a statement.